CLEAR Secure (NYSE:YOU) Shares Climb 26.9% After Earnings Beat

CLEAR Secure, Inc. (NYSE:YOU)’s share price was up 26.9% on Wednesday following a better than expected earnings announcement. The stock traded as high as $60.99 and last traded at $60.5940. Approximately 804,387 shares traded hands during trading, a decline of 51% from the average daily volume of 1,633,404 shares. The stock had previously closed at $47.76.

The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $292.85 million during the quarter, compared to analysts’ expectations of $286.65 million. CLEAR Secure had a return on equity of 71.51% and a net margin of 14.78%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.29 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on YOU. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of CLEAR Secure in a report on Wednesday, October 7th. Weiss Ratings raised CLEAR Secure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. assumed coverage on CLEAR Secure in a report on Monday, August 24th. They set an “overweight” rating and a $55.00 price target on the stock. Wall Street Zen lowered CLEAR Secure from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Finally, DA Davidson dropped their price objective on CLEAR Secure from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, September 11th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $58.29.

Insider Transactions at CLEAR Secure

In other news, EVP Kyle McLaughlin sold 4,499 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $44.47, for a total value of $200,070.53. Following the completion of the transaction, the executive vice president owned 29,519 shares of the company’s stock, valued at $1,312,709.93. This represents a 13.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Z. Barkin sold 11,444 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $45.00, for a total transaction of $514,980.00. Following the sale, the president directly owned 11,550 shares of the company’s stock, valued at approximately $519,750. This trade represents a 49.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,047 shares of company stock valued at $808,615 over the last three months. Corporate insiders own 29.70% of the company’s stock.

Institutional Trading of CLEAR Secure

A number of large investors have recently made changes to their positions in the business. Alps Advisors Inc. lifted its position in CLEAR Secure by 22.6% in the third quarter. Alps Advisors Inc. now owns 13,739 shares of the company’s stock valued at $576,000 after buying an additional 2,537 shares during the last quarter. CenterBook Partners LP acquired a new stake in shares of CLEAR Secure during the third quarter valued at about $2,928,000. Kestra Private Wealth Services LLC increased its position in shares of CLEAR Secure by 9.5% during the third quarter. Kestra Private Wealth Services LLC now owns 6,511 shares of the company’s stock valued at $273,000 after acquiring an additional 567 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of CLEAR Secure by 2.9% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,442 shares of the company’s stock valued at $899,000 after acquiring an additional 600 shares during the period. Finally, Aviance Capital Partners LLC purchased a new stake in shares of CLEAR Secure in the 3rd quarter valued at approximately $379,000. 73.80% of the stock is currently owned by institutional investors.

CLEAR Secure Stock Performance

The business’s 50 day moving average price is $43.10 and its 200-day moving average price is $47.62. The firm has a market capitalization of $8.37 billion, a PE ratio of 42.07 and a beta of 0.99.

CLEAR Secure Company Profile

CLEAR Secure, Inc provides identity verification and secure access services through its CLEAR platform. The company uses biometric authentication and other identity technologies to help verify individuals and streamline access to participating locations and services.

Its consumer offerings include CLEAR Plus, a membership service that allows enrolled members to verify their identities at participating airports, and CLEAR Reserve, which enables travelers to reserve a time to proceed through select airport security checkpoints.